As stock market continues plummeting over tariffs, Trump spends the day at his golf course

WEST PALM BEACH, Fla. (AP) — Two days after sending the economy reeling by announcing widespread tariffs, President Donald Trump insisted his trade policies will never change as he remained ensconced in a bubble of wealth and power in Florida.

He woke up on Friday morning at Mar-a-Lago, his private club in Palm Beach, and headed to his nearby golf course a few miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”

Several supporters stood on the sidewalk as Trump, wearing his signature red “Make America Great Again” hat and white polo shirt, glided down a street lined with palm trees. They waved to him and he waved back, part of a ritual that plays out every weekend that he’s in town.

Parse.ly - related stories

What to know about the funeral and burial of Pope Francis

 

Iran and the US prepare for expert talks in Oman over Tehran’s rapidly advancing nuclear program

 

Canada is gearing up for federal election. Here’s what’s at stake

 

The Republican president was not expected to appear publicly, although he’s scheduled to attend a candlelit dinner for MAGA Inc., an allied political organization, on Friday evening. He spent Thursday in Miami at a different one of his golf courses, where he attended a Saudi-funded tournament. He landed in Marine One and was picked up in a golf cart driven by his son Eric.

Trump has often proved impervious to the kind of scandals or gaffes that would damage another politician, but his decision to spend the weekend at his gilded properties could test Americans’ patience at a time when their retirement savings are evaporating along with the stock market. The tariffs are expected to increase prices by thousands of dollars per year and slow economic growth, and there are fears about a potential recession.

Democrats called out Trump for being in a “billionaire bubble,” as Sen. Chuck Schumer put it, while millions watched their investments sink.

“While the American people are trying to put food on the table, I see that Donald Trump’s out there playing golf,” said Sen. Ben Ray Luján, a Democrat from New Mexico. “The president should be listening to people across the country. Maybe he should go into a grocery store, do some walking, talking to folks.”

Federal Reserve Chair Jerome Powell said Friday that the tariffs were “significantly larger than expected” and are “highly likely” to cause more inflation — at least in the short term but possibly in the long term as well.

However, Trump has described his policies as a painful yet necessary step to encourage companies to relocate their operations to the United States. Treasury Secretary Scott Bessent told Tucker Carlson in an interview released Friday that “I think we have to try this, and I have a high confidence ratio it’s going to work.”

The president spent Friday morning defending himself on Truth Social, his social media platform, and vowing to stay the course.

“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote.

Although experts have harshly criticized the tariffs, he’s found some support on TikTok. He shared a video that said “Trump is crashing the stock market” and “he’s doing it on purpose” as part of a “secret game he’s playing, and it could make you rich.”

The video featured a supposed quote from legendary investor Warren Buffett praising Trump, but Buffett’s company issued a statement saying it was fabricated. The video also said that Trump’s goal is to push the Federal Reserve to lower interest rates, something that the president explicitly called for later in the morning.

“This would be a PERFECT time” for Powell to cut interest rates, he wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”

With foreign leaders scrambling in response to Trump’s announcement this week, the president lashed out and looked to cut deals.

He said he spoke with Vietnamese leader To Lam and claimed Vietnam wants to eliminate its tariffs on U.S. goods if it can make a deal with the U.S.

He also criticized China for announcing its own tariffs on U.S. imports.

“CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO!” he wrote.

Republicans suggested that Trump’s policies would be the start of a parley with foreign countries.

“The president is a dealmaker if nothing else, and he’s going to continue to deal country by country with each of them,” said Sen. John Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had told Senate Republicans this week that the tariffs would be a “high level mark with the ultimate goal of getting them reduced” unless other countries retaliate.

Meanwhile, Trump also celebrated a new report showing the U.S. added 228,000 jobs in March, beating expectations. Although the numbers were a snapshot of the economy before the tariff announcement, Trump claimed vindication, saying they already show his moves are working.

“HANG TOUGH,” he wrote. “WE CAN’T LOSE!!!”

___

Megerian and Groves reported from Washington.